Funck's Frisbees Inc. purchased equipment 4 years ago at a cost of $24 million. The company...
Funck's Frisbees Inc. purchased equipment 4 years ago at a cost of $24 million.
The company has depreciated the equipment according to the MACS schedule:
| Year | Depreciation Rate |
| 1 | 20% |
| 2 | 32% |
| 3 | 19% |
| 4 | 18% |
What is the equipment's remaining book value? Enter your answer as a whole dollar (no decimal). Do not enter commas or the dollar sign. Enter the full numeric value ... do not enter the value in millions.
Homework Answers
Book value=Cost-Accumulated depreciation
=24,000,000*(1-0.2-0.32-0.19-0.18)
which is equal to
=2640000.
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